Wednesday, March 4, 2009

GE to invest $150 million in partnership with ATP in Gulf of Mexico

HOUSTON and STAMFORD, Conn. - GE Energy Financial Services, a unit of GE, has agreed to invest $150 million in a partnership with Houston-based ATP Oil & Gas Corp. which will own and operate a floating oil and gas production unit in deepwater Gulf of Mexico.
Subject to completion of customary closing conditions, GE Energy Financial Services will invest $150 million for a 49 percent limited partnership stake, its first investment in a floating oil and gas production facility.
ATP Oil & Gas will hold the remaining 51 percent stake and will serve as managing partner.

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